Investment will support development of life sciences incubators and
capital available to fund promising Canadian companies
Northleaf Venture Catalyst Fund (NVCF) today announced that it has
committed $10 million to leading global healthcare venture capital
manager Versant Ventures.
“This is a unique opportunity for NVCF to support investment in Canada’s
early-stage life sciences industry by a top-tier global firm,” said Ian
Carew, Director of Northleaf Capital Partners, the manager of NVCF.
“Versant has already begun implementing its specialized and successful
model for investing in, and launching, early-stage companies in Canada.
Versant will not only contribute to growing the most promising Canadian
life sciences companies, but will also help anchor the development of a
robust biotechnology and medical technology eco-system in Canada going
Versant Ventures’ established and growing presence in Canada, with
incubators in Vancouver, Toronto and Montreal, supports the development
of successful companies by local academics and entrepreneurs with a
focus on building companies around Canadian intellectual property.
Versant will invest in companies that emerge from these incubators and
often structures partnerships between these enterprises and leading
global pharmaceutical companies.
“We are investing in Canada to develop early-stage companies because we
believe there is a strong combination of drug discovery talent and
leading academic research across the country,” said Brad Bolzon, PhD.,
Managing Director of Versant Ventures. “Our firm has a track record of
investing in early-stage research as well as partnering with global
pharmaceutical companies to launch novel therapeutics companies. We want
to accelerate the creation of new biotech companies that can flourish
here in Canada.”
Through investments in venture capital funds and direct co-investments,
NVCF seeks to generate attractive returns and strengthen the ability of
the Canadian venture capital sector to support innovative, high-growth
Canadian companies. NVCF’s primary objective is to generate attractive,
long-term returns for its investors. By demonstrating the significant
opportunities available to investors in venture capital and growth
equity funds and companies, NVCF will contribute to the development of a
profitable, globally competitive and self-sustaining venture capital
industry in Canada.
About Northleaf Venture Catalyst Fund
Northleaf Venture Catalyst Fund is a joint initiative between major
Canadian institutional investors and the Governments of Canada and
Ontario to invest primarily in Canada-based venture capital and growth
equity funds and direct co-investments that support innovative, high
growth companies. NVCF is structured as a fund of funds with the primary
objective of generating attractive returns for its investors. The Fund
is managed by Northleaf Capital Partners. For more information on
Northleaf, visit www.northleafcapital.com.
About Versant Ventures
Versant Ventures is a global venture capital firm that invests in
innovative, groundbreaking bio-pharmaceuticals, medical devices, and
other life science opportunities. Founded in 1999, the firm consists of
an experienced team committed to helping entrepreneurs build successful
companies that impact healthcare and improve quality of life. For more
information on Versant, visit www.versantventures.com.
Northleaf Capital Partners
Jeff Pentland, +1-416-477-6165
Source: Northleaf Capital Partners